Email this article 
Three Years of J. Biden’s Presidency: The State of Economy and Mid-Term Forecasts
- Authors: Supyan V.B.1
-
Affiliations:
- Georgy Arbatov Institute for U.S. and Canada Studies, Russian Academy of Sciences (ISKRAN)
- Issue: No 1 (2024)
- Pages: 5-17
- Section: Articles
- URL: https://journal-vniispk.ru/2686-6730/article/view/256451
- DOI: https://doi.org/10.31857/S2686673024010019
- ID: 256451
Cite item
Open Access
Access granted
Subscription Access
Abstract
The article aims to show trends and results of economic development of the USA during first 3 years of Joe Biden’s presidency. It is found out that the economy has mostly overcome the consequences of pandemic crises and the basic economic indicators are positive. It is shown that the US Economy is now among the strongest in the G7. The same time the level of inflation is still higher than the targeted goal of the Federal Reserve. The investment activity in many industries is also on a relatively low level According to mid-term forecasts next several years will demonstrate gradual improvement in everyday economic situation.
About the authors
Victor B. Supyan
Georgy Arbatov Institute for U.S. and Canada Studies, Russian Academy of Sciences (ISKRAN)
Email: vsupyan@iskran.ru
ORCID iD: 0000-0001-8819-3940
Scopus Author ID: 6504331071
Corresponding Member of RAS, Academic Director of Economic Studies of ISKRAN. Chief Research Fellow,Honored Scientist of Russia Moscow, Russia
References
- IMF Hikes US Growth forecast for 2023, leaves global outlook unchanged. Jenni Reid, Oct. 10, 2023. Available at: http://www.cnbc.com/2023/10/10/imfraises-us-growth-forecast-leaves-global-outlook-unchanged.html (accessed 15.11.2023).
- Fed Set to Double its Economic Growth Forecast After Strong US Data. Store Matthews, Sept. 6, 2023. Available at: http://www.bloomberg.com/news/articles/2023-09-06/us-economic-data-strength-has-led-set-to double-growth-outlook (accessed 12.10.2023).
- United States Economic Forecast. Daniel Bachman. 15 June 2023. Available at: http://www2.deloitte.com/uspen/incights/economy/us-economy-forecast (accessed 25.09.2023).
- Rose Khattar, Jessica Vies. 7 Reasons the US Economy is Among the Strongest in the G7; July 25, 2023. Available at: http://www.americanghjuress.org/article/7-reasons-the-U-S-economy-is-among-the-strongest-in-the-G7/ (accessed 15.09.2023).
- An Update to the Economic Outlook 2023 to 2025. July 2023. Congressional Budget Office. Available at: http://cbo.gov/publication/59258 (accessed 18.08.2023).
- Glencora Haskins and Joseph Parilla. Spurred by federal legislation, new industrial investments are reaching a wide swath of the country. June 13, 2023. Available at: http://www.brookings.eduarticlesspurred-by-federal-legislation-investments-are-reaching-a-wide-swath-of-the-country (accessed 16.09.2023).
- Wendy Edelberg. Richard G. Frank, Aaron Klein, Senjiy Patnaik, David Wessel. Key Economic Policy Developments in 2022 and what to Expect in 2023, December 21, 2022. Available at: http://www.brookings.edu/articles/key-economic-policy-developments-in-2022-and-what-to-expect-in-2023 (accessed 15.03.2023).
Supplementary files
